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2 clusters · 2 sources · 27 days · First seen about 1 month ago · Last updated 18 days ago

Indian power sector financing and corporate developments

Overview

Power Finance Corporation (PFC) has expanded its involvement in renewable energy and infrastructure development in India. The corporation approved a long-term loan of approximately Rs 3,405 crore to ACME Solar Holdings Ltd for a 250 MW renewable energy project involving solar, wind, and battery storage across Rajasthan and Gujarat. Additionally, PFC established a subsidiary, Kushtagi Transmission Limited, to develop a 765 kV interstate transmission line in Karnataka.

Furthering its strategic positioning, PFC is proceeding with a merger-by-absorption scheme with REC Limited. The merger aims to improve capital efficiencies, balance sheet strength, and operational synergies to support large-scale funding within the power sector. During the same period, REC reported record annual disbursements and an increased focus on renewable energy projects.

Entities

NHPC Limited · ACME Solar Holdings Ltd · Karnataka · Power Finance Corporation Limited · Terralight Solar Energy Tinwari Private Limited

Timeline

18 days ago

[BUSINESS] 2 sources
REC Limited and Power Finance Corporation merger underway
REC Limited is progressing with a merger with Power Finance Corporation to boost power sector funding and credit flow, while also completing the sale of Luhri Power Transmission to Terralight Solar Energy.
about 1 month ago

[BUSINESS] 4 sources
Power Finance Corp funds 250 MW solar project and launches Karnataka transmission SPV
Power Finance Corp approved a Rs 3,405 cr loan for ACME Solar's 250 MW renewable project and created Kushtagi Transmission Limited to develop a 765 kV Karnataka transmission line.

Sources

desitalkchicago.com · solarquarter.com